Retail fuel prices are poised for a notable rollback starting Tuesday, helping ease financial pressure on transport operators, businesses, and consumers.
Jetti Petroleum Inc. announced over the weekend that pump prices could drop by ₱0.50 to ₱0.70 per liter for gasoline and by ₱1.50 to ₱1.70 per liter for diesel, citing last week’s full trading cycle for crude oil as the basis for the projected downward adjustment.
“This week’s rollback is largely influenced by increased production from OPEC+ and expectations of easing geopolitical tensions, particularly around the Russia-Ukraine conflict,” said Leo Bellas, Jetti Petroleum president.
According to Bellas, global crude prices have also been pressured by surging Chinese fuel exports and ongoing uncertainty surrounding U.S. trade and tariff policy. “These developments have tempered international fuel benchmarks, with Asian diesel and gasoline price markers reflecting growing supply from China,” he noted.
The drop in domestic prices follows significant increases implemented just last week: ₱1.90 per liter for gasoline, ₱1.20 for diesel, and ₱1.00 for kerosene. From 5 to 11 August, Department of Energy data show pump prices in Metro Manila averaging ₱55.30 for RON 91 gasoline, ₱56.00 for diesel, and ₱74.90 for kerosene.
Despite this week’s expected reductions, fuel prices remain elevated on a year-to-date basis, with net increases of ₱11.20 per liter for gasoline, ₱14.25 for diesel, and ₱3.95 for kerosene.
For logistics-heavy businesses and daily commuters, the price relief could offer temporary breathing room amid inflationary pressures, though Bellas warned that volatility may persist. “Geopolitical risks and shifting U.S. trade policies continue to cloud the broader demand outlook,” he added.
Fuel firms are expected to confirm the official rollback figures on Monday.
